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Insurance

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NOTEBOOK: Jury trial in Wellmark discrimination lawsuit set for March — 2023

Plaintiffs in a racial discrimination lawsuit filed in May 2020 against Wellmark Blue Cross and Blue Shield will have to wait two more years for a jury trial in that case to begin.

The case, …

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A Closer Look: Tim Nelligan

Tim Nelligan joined Continental Western Group as its president in October 2020. Based in Urbandale, Continental Western Group is an operating company of W.R. Berkley Corp., one of the largest commercial insurers in the United …

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Casey’s continues to do well during pandemic

Casey’s General Store Inc., in the third quarter that ended Jan. 31, had diluted earnings per share of $1.04, a 14% increase from 91 cents a year ago, the company reported. In addition, inside same-store …

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Large investor opposes FBL Financial Group’s bid to take company private

One of FBL Financial Group’s largest shareholders, New York-based Capital Returns Management LLC, is contesting FBL’s proposed merger and buyout offer to take itself private, saying the share price it’s offering to its unaffiliated shareholders …

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Apollo and Athene to merge in all-stock $11 billion deal

Private equity firm Apollo Global Management Inc. and Athene Holding Ltd., parent company of Athene USA, have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of …

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COLA freeze for qualified retirement plans pulled from stimulus bill

The American Retirement Association said Thursday it has successfully lobbied for a provision to be pulled from the COVID relief bill that it said could have undermined retirement savings plans. The nearly $2 trillion American Rescue Plan …

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Stocks up in February; Iowa companies mostly positive

Thirteen of the 18 Iowa-based companies on the Business Record’s Iowa Index posted stock price gains for the month of February. Six companies posted double-digit percentage gains. Five Iowa-based stocks posted losses, with four being …

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F&G annuity sales top $1.3 billion in fourth quarter, up 23% year over year

F&G, a leading provider of annuities and life insurance based in Des Moines, reported operating results for the fourth quarter of 2020 as part of the quarterly earnings report of its parent company, Fidelity National …

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UFG Insurance enters agreement with Topsail Re

Cedar Rapids-based UFG Insurance has entered into a program management agreement with Topsail Re that will enable the two companies to share risks on certain lines of business, UFG announced. Topsail, a reinsurance group founded in 2018, …

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Principal and MetLife sign $1.2B pension risk transfer deal with Philips

Principal Financial Group and Metropolitan Tower Life Insurance Co., a subsidiary of MetLife Inc., announced they have entered into an agreement with health technology company Philips North America LLC to transfer approximately $1.2 billion of Philips North …